Inquiring minds are listening to California Treasurer Bill Lockyer who testified at an informational hearing on budget reform on October 22, 2009.
[youtube=http://www.youtube.com/watch?v=JWOoqmrOCH8]
The highlight of his rant is about pension reform.
“It’s impossible for this legislature to reform the pension system, and if we don’t, we bankrupt the state. And I don’t think anybody can do it here, because of who elected you. You’re just captive of the current environment and I don’t see any way out.”
Mike “Mish” Shedlock
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